Uber Franchise Cost, Fees & Profit 2024

The Uber franchise is very well-known all around the world. Other than providing users with the opportunity of saving some money when they need a lift (the Uber option is much cheaper than calling a taxi, for example), it also provides tons of people with the opportunity to have a job.

If you are thinking of getting into business with Uber, you are in the right place because we’re about to discuss anything you need to know about how to join the Uber Franchise.

Uber Franchise
Uber Franchise

About Uber

Uber is a very well-known mobility service provider. With Uber, users can just download an app and ask for a car or schedule a lift.

On the other side of the service, there are Uber drivers that can use the app to provide the service with their own car.

Uber is very popular among people of all ages: when you need a car to go to the airport or wherever you need it, Uber is often the cheaper and quicker option: that’s what makes this service so successful all around the world.


History Of Uber

Uber started as a transportation service in 2009, even though the first beta launch happened in 2010.

Originally, the app was dedicated to luxury vehicles, but soon enough, the company launched UberX, a service that allowed users to hire non-luxury cars at a cheaper price. 

The service was first launched in San Francisco and Chicago, and it was a quick success.

From that on, the company made the service available in more and more towns until it reached other countries and continents. 

Today, Uber is available in America, Europe, Australia, and Asia.

Furthermore, Uber is no longer only an alternative to taxis; it is also a food delivery service: UberEat.


Uber Franchise: Business model

Uber isn’t technically a franchise, but what matters is that you can launch your Uber business if you want and if you have a car.

So Uber doesn’t require a franchise fee, but it retains a commission on each drive.

Business ModelMobility service
Initial InvestmentHave your own car
FranchiseNO (Not technically)
Uber FeeVariable
Number of drivers 29,300 worldwide
Revenue17.6 billion USD

Uber Revenue & Profit

Is Uber profitable? Well, the revenue of Uber for the year ending on March 31, 2023, was $33.846B showing a 58.11% year-on-year increase.

For 2022, Uber’s revenue was $31.877B which was again an increase of 82.62% from the revenue earned in 2021. 

You must note that inspite of the increase in revenue Uber is a loss making company and has never been profitable ever since it has been listed in the market.


Training And Support From Uber Franchise

Training And Support From Uber Franchise

If you are interested in becoming an Uber driver, you’ll need to have your own car, and you’ll need to download the Uber app.

Through the app, you are given all the information you need to start providing your transportation service to the community, and this is all the training you’re going to receive.

After all, this is everything you need because becoming a Uber driver is very easy.


Term & Renewal

You can keep on working as a Uber driver for as long as you like. There is no renewal needed.

When you don’t want to work with Uber any longer, you can just deactivate your availability on the app and then your account.


Comparison Franchise: Uber VS Lyft

CompanyUberLyft
BasedSan FranciscoSan Francisco
Founded20092012
Number of drivers29,300 worldwidefuber4,453 USA and Canada
Service FeeVariable Variable
FranchiseNO (Not technically)NO (Not technically)
Revenue17.6 billion USD3.21 billion USD

Uber Franchise: FAQ

Is Uber a franchise?

Uber isn’t technically a franchise, but all it takes to become a Uber driver and start your business is that you have a car.

How much does it cost to start an Uber business?

The only costs you need to cover are the ones related to your car and your smartphone: you’ll need both.

What is the Uber Franchise known for?

Uber is known for having revolutionized the transportation market.

It is the most successful and popular transportation app, and it keeps on offering cheaper alternatives to users that need car rides.

How many Uber drivers are currently there?

Uber counts almost 30,000 drivers working for the company.

6 thoughts on “Uber Franchise Cost, Fees & Profit 2024”

  1. Hello sir
    Can I get more details about the procedure and other formalities regarding the uber dealership in my city?

    Reply

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